News and Communication

The Finance (Miscellaneous Provisions) Act 2018

Highlights of the major changes brought about in the Global Business Sector by the newly enacted Finance (Miscellaneous Provisions) Act 2018

Budget 2018-2019 - related Frequently Asked Questions

We are pleased to present to you an FAQ on the 2018-2019 Budget in order to clarify the numerous queries that our clients and stakeholders may have on the changes in the Global Business Sector.

Mauritius Budget Highlights 2018-2019

The Honourable Mr. Pravind Kumar Jugnauth, Prime Minister, Minister of Home Affairs, External Communications and National Development Unit, Minister of Finance and Economic Development of the Republic of Mauritius presented his budget speech for the fiscal year 2018/2019 on the 14th of June 2018.

The 2018/19 budget, themed Pursuing our Transformative Journey, reiterates the Government’s desire and willingness to devise strategies in order to achieve its objective of graduating to a high-income economy, which revolves around defined priorities, namely, economic prosperity, social harmony and environmental sustainability.

Newsletter - 1st Quarter 2018

In this Issue:

  1. Opening of FCS's Represenataive Office in India
  2. Promoting the Mauritius International Financial Centre in the Gulf
  3. Mauritius updates its Data Protection Legislation to be in line with the GDPR
  4. Introduction of a Registration Certificate for Food Processing Activities
  5. Tax Holiday Certificate
  6. Common Reporting Standard:
  • Reporting 2018
  • Adoption of disclosure rules for advisors

Coming into force of the GDPR as from 25 May 2018

The General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) will be effective as from 25 May 2018 across the European Union. Mauritius has implemented the GDPR by the enactment of the Data Protection Act 2017 (DPA 2017), already in effect since 15 January 2018.

Global Competitiveness Report 2017/2018: Mauritius in the Lead in Sub – Saharan Africa

Mauritius has been ranked 1st in the Sub-Saharan African region for the fourth consecutive year according to the Global Competitiveness Report 2017/2018 published by the World Economic Forum on 27th September 2017.

Mauritius - An OECD Compliant Jurisdiction

Mauritius rewarded for its continued commitment to implement the international standards of transparency and exchange of information for tax purposes

The Finance (Miscellaneous Provisions) Act 2017

Changes brought by the Finance (Miscellaneous Provisions) Act 2017 related to the Financial Services Sector

Newsletter - 2nd Quarter 2017

In this Issue:

A. Mauritius signs the Multilateral BEPS Convention
B. The Securities (Preferential Offer) Rules 2017
C. New Criterion for investors of Professional Collective Investment Scheme offering their shares by way of Private Placement.
D. Enhancement in the conduct of business in Mauritius by a corporate holding a Catergory 2 Global Business Licence ('GBC')
E. Appointment of New CEO of the Financial Services Commission Mauritius



Mauritius Budget 2017 - 2018 Highlights

The Prime Minister and Minister of Finance and Economic Development delivered his budget speech on Thursday 8th June 2017.  While the proposed measures have been generally well received by the different stakeholders of the Mauritian economy, the true intent and purport of those measures would need to be assessed going forward in order to gauge their economic impact.

 

Enactment of The Business Facilitation (Miscellaneous Provisions) Act 2017

The new Business Facilitation Act came into force on 20 May 2017 with the objective of eliminating regulatory as well as administrative hurdles to investments.

This fundamental reform seeks at creating a more business-friendly climate for investing and conducting business in Mauritius.

The Act promotes the use of information technology for a modern and digital business environment by bringing significant amendments and innovations to twenty six (26) pieces of already-existing legislation.

Newsletter - 1st Quarter 2017

In this Issue:

A. 2017 Global Talent Competitiveness Index: Mauritius ranked 1st in Africa
B. Launch of the National Code of Corporate Governance 2016
C. First African Economic Platform (AEP) hosted in Mauritius
D. MoU signed between the Hongkong Trade Development Council (HKTDC) and Mauritius to enhance bilateral relations in the field of financial services
E. Road show in Cape Town, Johannesburg & Gaborone from the 8th - 13th May 2017

 

INDIA'S GENERAL ANTI-AVOIDANCE RULE (GAAR) EFFECTIVE FROM 1 APRIL 2017

India's Federal Government has confirmed on 27 January 2017 that its General Anti - Avoidance Rule (GAAR) will come into effect on 1 April 2017, as previously announced, but is now accompanied by a set of 16 clarifications in the form of questions and answers to reassure foreign investors about the fairness of its implementation issued by the Central Board of Direct Taxes ("CBDT").

Tax Update: INDIA SUSPENDS CAPITAL GAINS TAX ON OFFSHORE SHARE SALES

The Central Board of Direct Taxes has agreed to suspend a notice, issued at the end of 2016, which would have charged Capital Gains Tax on offshore sales of Indian shares.

Tax Update

Amendment to the Double Taxation Avoidance Agreement (DTAA) between Singapore and India

Singapore and India have signed a protocol for the amendment of the Convention for the Avoidance of Double taxation with respect to taxes arising from capital gains on the 30th of December 2016 in New delhi, India. 


Coming into force of tax holidays

A host of tax holidays, ranging from 5 years to 8 years, depending on the type of licence, has recently come into effect.

Newsletter - September 2016

In this Issue:
A. Changes brought by the Finance (Miscellaneous Provisions) Act 2016 in the Financial Services Sector          
B. Holders of GBL2 allowed to invest on SEM
C. Positioning of Mauritius on the International scale
D. The Launching ceremony of a subsidiary of the Bank of China (BOC) in Mauritius


Mauritius Budget 2016 - 2017 Highlights

The new Minister of Finance and Economic Development delivered his much awaited budget speech on Friday 29th July, amidst looming concerns over BREXIT and the revised India-Mauritius Tax Treaty.

Protocol to the India-Mauritius Double Tax Avoidance Treaty

New DTAA brings forth enhanced certainty and predictability

Newsletter - May 2016

In this Issue:
A. Mauritius ranked as the most resilient economy in sub-Saharan Africa
B. Bank of China Licensed to conduct banking operations in Mauritius
C. Direct flights to Maputo and Dar es Salaam as from May 2016
D. New MoU between FSC Mauritius and The Financial Services Authority Seychelles
E. New MoU between FSC Mauritius and The Financial Services Regulatory Authority (FSRA) of Swaziland.

 

Amendment to the Double Taxation Avoidance Agreement (DTAA) between India and Mauritius

India and Mauritius signed the protocol for the amendment of the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income and capital gains on the 10th of May 2016.

Newsletter- December 2015

In this Issue:
A. New Captive Insurance Act 2015
B. Mauritius tops the African Governance List
C. Economic Freedom Report 2015
D. New Category of Investment Adviser for Corporate Finance
E. New MoU between Mauritius FSC and Dubai Financial Services Authority